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Liner industry faces another year of red ink: Maersk Line chief

Liner industry faces another year of red ink: Maersk Line chief
In the latest issue of Seatrade Asia Week The container shipping industry is set for another loss making year as it struggles with the impact of soaring fuel costs warns new Maersk Line chief Soren Skou.  

The world’s largest container line said in its 5 March financial results that it expected to report a loss this year. “I would expect that if the outlook goes for Maersk Line that we will not be profitable in 2012 then the industry will also be losing money as whole because our margins are better than industry averages. So if we lose money I am fairly certain the rest of the industry will do so,” Skou ceo of Maersk Line told Seatrade Asia Week.

The sector is expected to stay in the red despite recent successful rate increases on the Asia – Europe trade……

 PRD ports tough out China’s “Go West” policy

China’s “Go West” policy is having an impact on the ports in the Pearl River Delta (PRD) but the changes are not as dramatic and detrimental as some believe. While there will be migration of manufacturing and cargo westwards due a combination of official policy and economic factors, this will be a gradual process and will continue to keep the region’s ports busy albeit with a slant towards its western fringe.

SCI seeks $500m in loans for acquisitions

State-run Shipping Corporation of India (SCI) plans to raise up to $500m in dollar loans from overseas banks during the forthcoming financial year for buying ships.

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TAGS: China